This study investigates the relationship between debtors? punishment and the credit market development. As the main goal we analyze empirically which is the optimal level of the debtors? punishment, providing the highest credit market development. Aligned with earlier theoretical findings from...

This study investigates the relationship between debtor punishment and the development of the credit market. We empirically analyze how the level of debtor punishment relates to the credit market expansion. We find evidence that an increase in debtor punishment tends to produce a positive effect...

This paper investigates the effects of the reduction of barriers to trade in the computer technology sector on the Brazilian labor market. We show that the adoption of computers affected labor demand in favor of non-routine tasks, which are complementary to labor, as opposed to routine ones,...

In early 2005 a new bankruptcy law was approved by the Brazilian Congress, taking effect a few months later. The new legislation improved creditor protection and the bankruptcy system's efficiency. This paper tries to shed some light on the empirical consequences of a bankruptcy reform on a...

This article investigates the effects of privatization under Brazil's National Privatization Program during the 1990s on companies' capital structure. Our model suggests that privatized firms increased their market leverage by 10 to 14% on average relative to the level before privatization. The...

This paper examines the relationship between corporate governance level and the bankruptcy law to such debt variables as firms? cost of debt and amount of debt under uncertainty (in the Knight´s sense). First we find that the better the corporate governance and the harsher bankruptcy law, the...

This paper studies the effect of changes in creditors? priority order defined by the bankruptcy law on firms? capital structure. Taking advantage of the Brazilian bankruptcy law Reform and using firms? balance sheet data, we obtain results in line with theories that predict the effects on the...

In this study we describe how listed Brazilian companies disclose information about their strategy in annual reports. From the literature on operations strategy, we developed eight proxies and their respective keywords for strategy disclosure. Keyword frequencies were measured using an automatic...

n this paper the nature of organizational discourse is theoretically underpinned by the concept of self-serving attributions, a type of causal reasoning that allows the writer to take credit for good news and avoid blame for bad news. Based on motivational and informational explanations, we...